DCFM.
I have wondered many times about Manduca's last point about the rules changing when the ETF's or the gold market run into trouble. I, too, believe that will happen and wonder why more analysts haven't taken a shot at predicting what rules might change, when it might happen and what effect it will have.
Also, I would add, what would happen if those big bullion banks really do get to the point where their gold short positions get so huge that they simply cannot cover and shut down citing national security reasons or a force majeure. Would the Chinese walking away from tied-in derivative contracts qualify there?
If there are any changes, I think I know who will get the big end of the stick......us.